The Saver-Investor Path requires that you follow certain Smart Money Habits during your entire life. It is the Guaranteed Path to Wealth because it does not require any particular skills, knowledge or significant risks. Just saving 20% of your income every year and prudently investing those savings.

Because I am a Certified Financial Planner, with various securities licenses, everything I publish has to go through compliance with my financial planning firm.

Unfortunately, the title Guaranteed Wealth did not pass compliance. They want me to change the title.

I have some alternate titles and was hoping you might weigh in on which title you like the most. In the order of MY preference, below are the alternate titles I am considering:

Middleclass Millionaires

Undercover Millionaires

Unremarkable Millionaires

Unexceptional Millionaires

Wealthy on Purpose

Deliberate Wealth

Intentionally Wealthy

Wealthy By Choice

The Wealth Game Plan

Unavoidable Wealth

Inevitable Wealth

If you have ideas for alternate titles, please share them with me.

My mission is to share my unique research in order to help others realize their dreams and achieve their goals. If you find value in these articles, please share them with your inner circle and encourage them to Subscribe. Thank You!

I received an overwhelming response to my request for 10 endorsements. Due to space limitations, I had to limit it to 10. I am very grateful and honored at the incredible response I received.

Tom

My mission is to share my unique research in order to help others realize their dreams and achieve their goals. If you find value in these articles, please share them with your inner circle and encourage them to Subscribe. Thank You!

My sincerest thanks to all of you who responded to my offer to read the raw manuscript of my upcoming book. I received an overwhelming response from my readers and my manuscript is now in the trusted hands of five readers who have graciously agreed to provide valuable feedback on my new book.

One of the standard practices of authors is to secure endorsements or testimonials for their book from famous, celebrity-types. These endorsements typically wind up on the front and back covers of their books as well as the first few pages inside their books.

Instead of following the herd, I would like the endorsements for my upcoming book, Guaranteed Wealth, to come from my devoted readers.

So, I have another request to make.

Who would like to provide me with an endorsement that will be featured in my new book?

I will send the first 10 who accept my offer, a copy of my manuscript.

In return, I am hoping you will provide me with an endorsement, which my publisher will incorporate into my book.

Real endorsements, by real people who are committed to improving their lives and the lives of their inner circle.

Thank You for your help!

My mission is to share my unique research in order to help others realize their dreams and achieve their goals. If you find value in these articles, please share them with your inner circle and encourage them to Subscribe. Thank You!

I just put the finishing touches on my latest book, Guaranteed Wealth – Smart Money Habits For Every Stage of Your Life.

I will be sending my manuscript over to my publisher this week.

Who would like to review my book and provide me with feedback?

I will send the first 5 who respond, via email, a copy of my manuscript.

TOM@RICHHABITS.NET

My mission is to share my unique research in order to help others realize their dreams and achieve their goals. If you find value in these articles, please share them with your inner circle and encourage them to Subscribe. Thank You!

My mission is to share my unique research in order to help others realize their dreams and achieve their goals. If you find value in these articles, please share them with your inner circle and encourage them to Subscribe. Thank You!

Tom Corley: How to Develop Rich Habits – TPS352

Tom Corley is an internationally recognized authority on habits and wealth creation. His inspiring keynote addresses cover success habits of the rich, failure habits of the poor and cutting edge habit change strategies. In Tom’s five-year study of the rich and poor, he identified over 300 daily habits that separated the “haves” from the “have nots.” Tom is a bestselling and award-winning author. His books include Rich Habits, Rich Kids, Change Your Habits Change Your Life and Rich Habits Poor Habits.

Highlights

After someone asked Tom, “What am I doing wrong?” he started doing research about habits of the rich and poor.

My mission is to share my unique research in order to help others realize their dreams and achieve their goals. If you find value in these articles, please share them with your inner circle and encourage them to Subscribe. Thank You!

Wealth is a byproduct of success. It is the carrot at the end of the stick. Take away that carrot and you remove the desire to pursue success.

Socialism not only takes away that carrot, it extinguishes the success traits that make success and wealth possible: hard work ethic, creativity, persistence, genius, good habits, overcoming fear and the courageous pursuit of dreams and goals.

Success is therefore impossible in a Socialist society.

Thankfully, America’s founding fathers knew this.

In order to encourage the pursuit of success in America, our founders built into the framework of our US Constitution certain principles that fuel the pursuit of success. These were liberty, limited government, and property rights. Property rights being the right to keep the wealth you produce without it being taken away by government.

These principles enabled America to become the economic behemoth it is today.

These principles are codified into what we call the American Dream. But, the American Dream is different things to different people.

If you analyze the habits of wealthy people, some trends begin to emerge. First, they don’t follow the pack — whether it’s a fad investment or panicking during a market sell-off, according to Tom Corley, an author who has studied self-made millionaires.

Second, they work at work at becoming successful every day. And it doesn’t have to take hours of their time.

Corley, who has written a number of books, including “Rich Habits,” likened the wealthy to trees, which tend to grow slowly.

“Every day, they do certain things that help them to change into the individuals they need to become in order for success to visit them,” he told CNBC. “This change is not noticeable from day to day, month to month or even year to year. But after many years, the change is obvious.”

Daily habits could include increasing your knowledge by going to school, attending seminars and picking the brains of mentors. You can also develop and perfect your skills by practicing them, as well as cultivating relationships with successful people.

Berkshire Hathaway Chairman and CEO Warren Buffett, also known as America’s billionaire next door, has said the best thing people can do is develop their own talents. “The greatest asset to own is your own abilities,” he has told CNBC.

And, while we all make mistakes — there are a few that the super-rich generally don’t make.

Errors cost money, and while wealthy may have a lot of that — they certainly don’t want to lose it.

Here are five money mistakes that may be keeping you from getting rich.

Doing it yourself

Hero Images | Hero Images | Getty Images

When the stock market drops — as we saw in December, when major indexes all dropped at least 8.7 percent — you have to know what you are doing or you can get burned. If you don’t have time to spend a few hours a day tracking the market, the cost of a good financial advisor is well worth the investment.

Ivory Johnson, founder of Delancy Wealth Management in Washington, D.C., said most wealthy people don’t try to manage their money themselves — they hire financial planners, CPAs and attorneys to protect their assets and reduce their risks.

And when are risks the highest? When markets start taking investors on a roller-coaster ride.

“When investors are stressed, the odds of making a bad decision increase,” he said. “Wealthy people mitigate that stress by having good advisors.”

While some may balk at paying a fee, the returns on that money will, most years, be well above that amount. During the bad years, your advisor can help you mitigate your loses to preserve your wealth for the long haul.

Not diversifying

Jeffrey Basinger | Reuters

A beachfront residence is seen in East Hampton, New York.

The average investor may have stocks and bonds in their 401(k) savings or investment portfolio. The rich branch out and diversify.

Remember Enron? Many employees of the energy giant bought into the company’s sales pitch so much that they put all of their retirement savings in its stock. And when the firm went belly up — so did all of their savings.

In addition to stocks and bonds, the ultra-wealthy invest in things such as real estate, limited partnerships and private markets, Corley said. That way, if stocks, for example, are having a really bad year, you may make up the difference with a good year in real estate or vice versa.

Another appealing factor that draws a lot of wealthy investors to real estate: It may provide an extra income stream. In addition to the potential appreciation of that property, if you rent it out — that’s an immediate source of income, which can give you a nice cushion should you lose your primary job.

And of course, you won’t be as worried in a year when stocks are down.

“Most wealthy families have real estate holdings because it offers recurring revenue, tax benefits and creates equity,” Johnson said. “It also puts less pressure on their stock portfolios to perform.”

Fad investing

Artur Widak | NurPhoto | Getty Images

A woman passes in front of a Bitcoin exchange shop.

The ultra-wealthy don’t get caught up in the latest fads, pouncing on the next “new” thing.

Take bitcoin, for example. The cryptocurrency took off in 2017, making instant millionaires out of some early investors. That spurred a lot of people to jump in and try their hand at making a fortune.

That could be fine – if you’re a professional trader or just want to play around with a little gambling money. Yet fads like bitcoin are risky business: The cryptocurrency has since fallen a stomach-churning 70 percent in the past year.

Buffett, who’s famous for his philosophy of investing in what he knows and then holding on to it for the long haul, told CNBC last year that “in terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending.”

The legendary investor, who is worth $80 billion, according to Forbes, believes you have to know what you know — and stay the course.

“What counts is having a philosophy … that you stick with, that you understand why you’re in it, and then you forget about doing things that you don’t know how to do,” Buffett said at the Berkshire Hathaway annual meeting in 2018.

Those who are caught up in the “follow the herd” mentality may do so because they are focusing on “one thing they think can make them rich overnight,” said Ivory at Delancy Wealth Management. “It doesn’t work.”

Lack of a long-term plan

Charles Platiau | Reuters

Visitors look at the painting “Le Printemps”, 1881, by French painter Edouard Manet during its presentation at Christie’s Auction House in Paris October 22, 2014.

“Most people don’t sit down and actually plan out how they are going to invest their savings over the next 20 years,” Corey said. “The wealthy do. They just don’t wing it.”

And it’s not just about making money for themselves, it’s about creating generational wealth that can benefit their grandchildren and beyond.

“Instead of buying a painting for the living room, they’ll spend extra money for art that can appreciate,” Ivory added. “They join clubs and organizations so the relationships they make will offset the fees, even if they don’t realize it for several years.

“This demands foresight, estate planning and patience.”

Panicking

Brendan McDermid | Reuters

The volatile stock market may want to make you run for cover. Because the rich are in it for the long term, they don’t tend to panic.

They also have a lot of liquidity and financial resources they can lean on when the stock market, real estate market or other investments go south, so they don’t “need” to sell, Corley said.

For Johnson, it’s also about the world giving us what we give out.

“Anxious investors receive anxiety, and confrontational people are always engaged in some form of conflict,” he said. Meanwhile, optimistic people experience more positive outcomes.

“Over a lifetime, this becomes a habit and you’ll often find that wealthy people who are happy got that way because they were optimistic, as opposed to becoming optimistic because they got wealthy,” Ivory said.

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